Value of Thai Banknotes in Circulation
MONEY, MONEY, MONEY
Have you ever wondered the value of all the Thai Baht (bank-notes and coins) in circulation?
As of November 24, 2016, it was reported in the weekly Financial Status Reports of the Bank of Thailand, the Currency Reserve and the Banknote Operations, the current value of Thai banknotes and coins in circulation: 1,428,852,274,736 Thai Baht.
1 Trillion, 428 Billion, 852 Million, 274 Thousand, 7 Hundred and 36 Baht !!!
Below there is up to date information about:
- Thai Banks
- Opening a Bank Account in Thailand
- Swift Codes
- Thailand’s Currency
- Automated Teller Machines (ATM’s)
- Credit Cards
- Exchange Rates
- Opening Times
- Insured Thai Banks
- Every branch of every Thai bank
- Bank Branches Locator
- Thai Banks – Current and History
THAI Banks, Currency, ATM’s and more…
There are many National and International banks in Thailand to choose from when you are travelling or opening a Thai bank account. Most of the Thai banks have English language websites.
These are the most well-known and largest Thai banks, sorted by their assets and number of branch locations, links to their websites and a link to the bank information as provided by the Central Bank, the Bank of Thailand.
Bangkok Bank is the largest bank in Thailand in terms of assets, with a total of US $78 billion. The bank consists of 1,238 branches locally, 9,211 ATM machines, and has 26 international branches in 13 nations, making them the top Thai bank with the largest overseas branch network.
Founded on October 8, 1999, the bank is a publicly listed company and among the top 5 companies in terms of size in the Stock Exchange of Thailand.
Total Assets; US$83.6 billion
Info from the Bank of Thailand
Formerly known as the Thai Farmers Bank, its total assets amount to US$ 70.8 billion. Established on June 8, 1945, the bank offers consumer banking, commercial banking, and corporate banking services among others.
Kasikorn is the 4th largest commercial bank in the country in terms of total assets, loans, and deposits. They were also the first bank in the country to offer credit card services back in 1973. In 2011, the bank was the first in the world to offer a secured system of payment via the use of mobile phones. They were also the first in the country to become an escrow agent for house buyers and sellers.
Today, there are 1,054 Kasikorn branches in Thailand, 9,460 ATM machines, and 5 international branches.
Total Assets; US$70.8 billion
Siam Commercial Bank – SCB
Known as Thailand’s first domestic bank, the Siam Commercial Bank was established unofficially in 1904, and officially in 1907. A universal banking group, they were the first to introduce ATM machines in the country in 1983.
Its industries include banking, insurance, real estate, and leasing.
Total Assets; US$81.4 billion
The Krungthai Bank has a total asset of US $83.4 billion, and 56% of the company is owned by the Thai government. Established on March 14, 1966, the bank was formed following a merger of two banks that were operated by the government.
On August 2, 1989, Krungthai was the first state enterprise to enter the Stock Exchange of Thailand. Its services include commercial banking and serves as a government channel for financial services.
Total Assets; US$81 billion
Info from the Bank of Thailand
TMB Bank is 30% owned by ING, 26% owned by the Thai Ministry of Finance, 7% owned by the DBS, and 2% by the Thai military. Its total assets is US$ 24.6 billion.
The bank is a brainchild of Field Marshal Sarit Thanarat, who wanted to establish a commercial bank to provide financial services for military personnel exclusively. In 1973, it became a full commercial bank open to the general public.
On April of 2015, TMB’s CEO was awarded “Best CEO in Asia-Pacific 2015” at the Asian Banker Leadership Achievement Award. The bank was also awarded “Best Managed Bank in Asia-Pacific.
Bank of Ayudhya
Also known as Krungsri, the bank’s total assets is US $35.2 billion. It has been operating as a commercial bank for more than 60 years and is considered to be the 5th largest bank in the country in terms of loans, deposits, and assets.
Founded in 1945, it has 657 domestic branches, 3 overseas branches, and 5,311 ATM machines in the country. Its industries include banking, investment, consumer finance, asset management, and other financial services.
Total Assets; US$35.2 billion
Scotiabank of Canada owns 49% of Thanachart Bank, and is merged with the Siam City Bank. Their total assets is US $31.2 billion.
Considered to be the 6th largest bank in the country in terms of assets, it currently serves 4 million customers in its 600 domestic branches.
Thanachart was formerly known as Ekachart Finance Public Company Limited, which was originally a finance company. The bank is also known as the country’s leading automobile lender.
Total Assets; US$28.4 billion
Founded in 2005, Kiatnakin is a full-service bank with a total asset of US $18.1 billion. It currently has 52 branches nationwide, and serves 3 business segments, which are: capital market business, commercial banking, and debt restructuring segments.
Listed in the Stock Exchange of Thailand, the bank also offers depository services.
Total Assets; US$18.1 billion
Kiatnakin Bank Website
CIMB Bank Thailand
Previously known as Bank Thai, CIMB Bank has a total asset of US $8.2 billion. It is a subsidiary of the CIMB Group, which is Malaysia’s 2nd largest financial services provider.
Thailand’s 10th largest bank in terms of assets, they offer comprehensive banking solutions for both consumers and businesses in the country. Among these services are commercial banking, consumer banking, investment banking, Islamic banking, and insurance products.
Standard Chartered Bank Thailand
A subsidiary of Standard Chartered Bank, its total assets is US $6.1 billion. A banking and financial services company, the company has been in Thailand since 1894.
In 1999, Standard Chartered acquired 75% of the shares of the Nakornthon Bank, which had 67 domestic branches nationwide.
Their services include consumer and wholesale banking solutions.
United Overseas Bank Thailand
The United Overseas Bank (Thai) Public Company Limited provides commercial banking services in Thailand. It operates in three segments: Retail, Wholesale Banking, and Other, which includes; treasury products and advisory services, such as foreign exchange, derivatives, and fixed income instruments
As of December 31, 2015, the United Overseas Bank Thailand operated a network of 155 branches, 374 ATMs, and 10 foreign exchange kiosks. United Overseas Bank (Thai) Public Company Limited is headquartered in Bangkok, Thailand. United Overseas Bank (Thai) Public Company Limited is a subsidiary of United Overseas Bank Limited.
Total Assets; US$5.9 billion
Info from the Bank of Thailand
Export-Import Bank of Thailand
Export-Import Bank of Thailand (EXIM Thailand) is a financial institution wholly owned by the Royal Thai Government under the Ministry of Finance’s supervision. EXIM Thailand was established by the Export-Import Bank of Thailand Act B.E. which became effective on September 7, 1993.
Under the Export-Import Bank of Thailand Act, EXIM Thailand is empowered to engage in various business undertakings. EXIM Thailand can offer short-term as well as long-term credits, either in domestic or overseas markets, in baht or any foreign currency denominations.
Islamic Bank of Thailand
The Islamic Bank of Thailand (IBT) was established under a special act by the country’s parliament in 2002, under strict supervision of the Ministry of Finance. The objective was to provide Islamic banking services to all customers, irrespective of their religion. The bank operates under the rules of Sharia, or the Islamic rules on transactions.
There are presently 26 branches of the Islamic Bank of Thailand, scattered in all regions of the country. Pattani has two branches, one in the city, the Pattani Branch, and Chabang Tiko Branch in Chabang Tiko subdistrict, in Mueang district of Pattani, both making a substantial profit each month.
Opening a Bank Account in Thailand
Banking in Thailand is a relatively stress free practice. There are a few documents you will need to submit in order to establish an account in an international bank. Requirements for opening an account:
Thai banks provide a wide range of services throughout the country. Most foreign banks are represented, however, at this stage they offer limited services to the individual consumer. Banking hours are generally from 08:30-15:30, Monday through Friday, except on public and bank holidays. It is best to confirm the business hours of your chosen bank at the time of opening an account
All banks require several forms of identification (i.e. passport, work permit, current credit cards, etc.) and most will request a letter of introduction from your employer along with details of your current visa status. Phone ahead to determine what your bank requires.
Detailed Information for opening bank accounts in Thailand.
Swift Codes are required for international Transfers and some other overseas banking information.
All of the Thailand Bank Swift Codes
Thailand’s currency is the Baht.
Bills/notes come in denominations of 1000, 500, 100, 50 and 20.
Coins are 10, 5, 2 and 1 baht. There are 100 satang in 1 baht. In restaurants, hotels, bars and most shops, it is unlikely you will use or need satang.
Automated Teller Machines (ATM’s)
ATM’s can be easily found all over Bangkok and Thailand for the withdrawal of cash in Thai Baht. At some machines it is also possible to take cash advances from VISA, MasterCard or American Express provided you have a registered pin number.
Countless numbers of visitors walk away from the ATM after they have received their money, leaving their ATM card inside the machine.
In Thailand the ATM returns the money first and the card last, this is not the same as many countries, where the card is returned first.
Remember this: “Money First – Card Last”
You have been warned, do not blame me if you lose your ATM card!
Further information about ATM’s in Thailand.
Most credit cards are accepted in Thailand and reputable businesses display stickers for the cards they will accept.
The typical charges are between 3% and 5% for Visa, MasterCard and American Express.
Credit card information and contact details for lost or stolen credit cards.
Major currency bills/notes and travellers cheques are cashed easily at hotels, tourist shops, all provincial banks, shopping centers and money changers. Travellers cheques are best changed in banks; you will need your passport.
Rates of exchange at banks or authorized money changers are better than those at hotels and department stores.
Exchange your money during the day…
During daylight hours, the exchange rate may be higher than the night-time exchange rates.
Current exchange rates can be checked in daily newspapers, at banks, money changers or with online bank exchange rate calculators.
Bank exchange booth locations in Koh Samui.
Bank exchange booth locations in Thailand.
How many baht is your currency exchanged for?
All of the main Thai banks exchange rate calculators
Banking hours are generally from 08:30 to 15:30, Monday to Friday, except on public holidays. However, some of the bigger branches may be open at the weekend. Check the business hours of your chosen bank when opening an account.
Deposit Protection Agency
The Deposit Protection Agency is a government organization established in B.E. 2551 under the Deposit Protection Agency Act B.E. 2551 in order to provide protection for depositors of Financial Institutions, especially small depositors, the majority of depositors, who may not have access to sufficient financial information.
List of Insured Thai Banks
Bank Branches Locator
List of every Thai Bank and the branches of the bank, itemized by City and Province.
Bank Branches Locator
Thai Banks – Current and History
Background history of Thai commercial banks and international commercial banks operating via their branches in Thailand as well as head office locations, contact telephone numbers, and links.
Sources; Information has been collected from:
Central Bank of Thailand: Bank Thailand
Swift Codes: The Swift Codes
Wikipedia: List of Banks in Thailand
Wikipedia: Banks of Thailand
Forbes: World’s Biggest Companies 2016
And from the individual bank websites listed above.
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